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FOX Business
Jan 31, 2013 7:00pm EST
down, not up. lori: the senate approved a house plan to approve the debt ceiling and hold off on congressional pay if they don't get a budget deal for the next ten years. you say this is more of a risk and even the fiscal cliff was. >> oh, yes. the debt ceiling is a potentially large fiscal contraction like the fiscal cliff was. even bigger, actually, if you do the math. debt ceiling is you cannot borrow, so you have to balance the budget tomorrow. in addition to that, there was the kind of not very real threat that we might default on the national debt or postpone payments, so you're playing with a combination of a big fiscal contraction and the possibility of triggering a financial crisis also. lori: i want to ask you about your book. after the music stopped, but about the financial crisis, to a dozen 7-8. looking back, said always 2020, what were the best actions taken by the federal government and the worst? >> at think there were three. in net you a tie for first? >> you know how tv works. >> one was tart. very unpopular, but effective and turn a profit for the taxpayer.
PBS
Jan 31, 2013 9:00pm PST
threatening to vote against raising the debt ceiling. if congress didn't act by august 2, the federal government would be unable to pay its bills. >> in 2010, when all these republicans were running for congress, ma of em awed tea partiers and the rest of them riding the tea party wave, the subject of the impending debt ceiling came up frequently and virtually all of them campaigned saying... pledging not to raise the debt ceiling. >> narrator: early on, republican freshmen attended orientation sessions. republican strategist frank luntz ran one of them. >> and i asked the question, how many of you are going to vote for the debt ceiling? and only three or four of them raised their hands. and i said, if you vote for the debt ceiling, the people who put you in office are going to knock you out. >> if you vote for the debt ceiling, you're voting for your own death certificate, political death certificate. >> narrator: for his part, the president decided to try something new: personal politics. he figured he could connect to the republican leader, john boehner. >> obama told his staff, jo
FOX Business
Jan 29, 2013 1:00pm EST
before. last time in 1995. could it happen? rich edson. we have the fiscal cliff deal. the debt ceiling pushed back and the continuing resolution, right? >> this is because of the debt ceiling in relation to this calendar. the debt ceiling increase is approved in the senate next couple days. that pushes the debt ceiling to may 18th. the back end of number of cliffs upcoming in the calendar. look here at the government deadlines the congress and white house are facing right now. first, march 1st are the automatic spending cuts known as the sequester. they begin to hit the federal budget. that is something that takes place over the course of the year and is gradual. march 27th, that is when government spending runs out. or a large chunk of it. if there is no agreement on that, that could shut down the federal government. you're looking at debt ceiling all the way on may 18th. congressional aides saying treasury is telling them pause of extraordinary measures they can use, this pushes the debt ceiling day back to sometime this summer perhaps if this is a bill that clears congress and the s
MSNBC
Jan 31, 2013 9:00am PST
to fight all over again on this and maybe threaten something on the debt ceiling, which for them would be worse. >> one of the things that hasn't changed since the republicans saying these job numbers are terrible. we're going to keep cutting medical they get even worse. >> so in terms of the big battle and any kind of possible grand bargain, you think that's over continuing resolution and budget numbers? >> yeah. well, i mean, the first thing that comes up time-wise, is on march 1st we have to deal with the sequester because the republicans reordered the way that these things are going to fall on the calendar. the sequester is those automatic spending cuts. billions -- tens of billions of dollars just this year in spending cuts. the republicans would like to have some kind of spending cut win this year, and that might be their only opportunity to get one, so you can see them hunkering in and saying, you know, we're going take the hit on defense spending cuts, but we're going to get spending cuts here by hook or by crook, and for democrats they might say, you know, we would rather lose
NBC
Jan 31, 2013 5:00am EST
the debt ceiling to keep going up through the middle of may. that would delay the expected shutdown -- rather, showdown between democrats and republicans over spending cuts. the house passed the bill last week. president obama said he will sign it if it passes in the senate. >>> chuck hagel will face some tough questions today in his bid to become defense secretary. the senate armed services committee will hold his confirmation hearing. he's a former republican senator but may have a hard time winning support from the senate's gop members. six republicans have already said they will oppose his nomination. they have questions about comments he made about israel and iran. if confirmed, hagel would be the first vietnam vet to lead the pentagon. >>> president obama says he hopes for some form of immigration within six months. in an interview with telemundo, he says the plan must include a path to citizenship for 11 million illegal immigrants already in the country. and he says it's time for congress to act. >> we've been working on this for a long time. we know what the issues are. i've
FOX Business
Jan 31, 2013 4:00pm EST
, go ahead, we have breaking news. rich: the senate has voted to raise the debt ceiling through may 18. this also has a provision that says in the senate doesn't pass a budget, the senators don't get paid, house lawmakers don't get paid after april 15. they don't get paid until the end of congress and are made whole at the end of the congress in 2014. the bill goes to the president's desk raising the debt ceiling so treasury can extend that sometime to july or august. david: a quick question in terms of defense, we will be talking about how defense cutbacks are hurting individual jobs in individual sectors and does this affect defense spending directly? >> this moves the debt ceiling fight the back. now march 1, automatic spending cuts and defense and other programs begin to hit and government spending on march 27. next up, defense spending will be a topic of conversation in d.c. and congress. david: rich edson, thank you from d.c. liz: the chief strategist in the pits of the cme. right now i would love to sit here and talk about the trading action for today. the last day of january, i
MSNBC
Feb 5, 2013 12:00pm PST
of 2011 and the run-up to the debt ceiling, and in the run-up to the fiscal cliff, excuse me, about a month idago, this idea of $600 billion in new revenue and entitlements. specifically in advance of the fiscal cliff, the white house wanted a change to the benefits formula for social security and basically be a benefit reduction over the long term for social security beneficiaries. is this just another, you know, trip down a dead end road to you or do you think there's movement on a grand bargain in the next month or two? >> i'm glad to be back on the show to qualify "the cycle" skeet shooting tournament. >> you're in. >> check out the stance, howard. >> i want to team up with s.e. of course. >> smart move. >> i called her already. >> okay. this is the -- did you say 47,000th? >> i lost count at 12,000. i'm guessing since then. >> what is whatever you said plus one. there's practically politically speaking no way that the republicans right now are going to go along with anything like that number that you put up on the screen or, frankly, any number right this minute. their mood and
MSNBC
Feb 1, 2013 7:00am PST
debt ceiling negotiations, anything that washington does that adds to the uncertainty certainly doesn't help the economy. so i think most people would like to see these people sort of get their act together before the deadline, hopefully. >> well, in fact, senator roy blunt just blamed uncertainty. let me play that. >> uncertainty is probably even a greater problem than contraction. if we knew what the government spending was going to be with some certainty, that would be better than this constant not knowing. we're on the 60-day clock and then on the 90-day clock. we need to get on a four and five-year clock. and that's why a budget and appropriations bills will make a difference, chuck. >> what are the chances, michael, of those things happening? >> well, you know, i think a long-term solution doesn't look very practical right now. and one reason is that members of congress like mr. blunt, republicans, are -- i think that it's more important not to give more ground on taxes than it is to create certainty. so i think everyone agrees that uncertainty is a problem. i think basically ev
ABC
Jan 31, 2013 6:00pm EST
to suspend the debt ceiling. it goes back to president obama who is expected to sign it. the measure withholds salaries if they do not pass a budget. some families are priced out of health insurance because of a glitch in the insurance overall. iras regulations failed to fix the problem. some families that cannot afford employer coverage will not able to get financial assistance from the government to buy private sector insurance. families were affected will not face a penalty if they remain uninsured. we do not know the numbers on how many people will be affected by this. >> the webcast job council is ending. despite continued unemployment problems. president obama greeted the panel in 2011 placing on a prominent business leaders and economists but it says it will now focus on new ways to engage the business community and create jobs. unemployment has dropped seven. -- to 7.8% since the council was formed. more than 12 million people remained without jobs. >> there is some snow in our future. we will have the times when we can expect this note to arrive. >> tickets to the super bowl
MSNBC
Jan 31, 2013 3:00pm EST
vote on the debt ceiling in 30 minutes. what we expect to happen there and what it means for the larger budget bat until d.c. asional have constipation, diarrhea, gas, bloating? yes! one phillips' colon health probiotic cap each day helps defend against these digestive issues... with three strains of good bacteria. [ phillips' lady ] live the regular life. phillips'. behind the silver of philadelphia cream cheese. it always begins with fresh, local milk, blended with real wholesome cream. going fresh from the farm, to our fridge, in just six days. because we believe in fresh taste. that's the way we set the standard for intensely rich, luscious flavor. so our story of fresh taste always ends... deliciously. when it comes to taste, philadelphia sets the standard. >>> in the next hour, the senate is expected to vote on and pass the house's debt ceiling deal. a bill that su spends the debt limit for four months and foregoes the threat of default but doesn't end the fiscal threat. sequestration looms large over the capitol. a provision in the bill being voted on today would whoeld house and
CNBC
Jan 31, 2013 3:00pm EST
with the debt ceiling because as we sit down here on the floor of the new york stock exchange watching a market that has largely gone up and not paid much attention to that fight of late, what are your expectations? can you expect anything better than we got with the cliff? >> i don't think we're going to see the debt ceiling being an issue. i think it would be foolish to hold the nation hostage by having a fight over the debt ceiling. i think we'll see it with sequestration. that's coming march 1st, not too far away and with the budget and the continuing resolutions. i think that's where the real fight will be, and i think we're seeing the consequences of an economy that's not investing, a government that has to pull back and what we saw in the gdp report yesterday, and, you know, who knows what we'll see tomorrow on the jobs report, but it's slowed down the economy and we're all waiting. >> absolutely. mark, good to have you on the program. thanks very much. >> thanks, maria, thanks, scott. >> we'll see you soon. the dow on pace for the best in 19 years or 24 years. it all depends on how you
CNBC
Jan 31, 2013 7:00pm EST
an extension of the debt ceiling, raised the debt ceiling for the future. and i didn't vote for that. there were no cuts included in that bill. the only cut that we have ever come up with is this 1.2 trillion, because the committee, the special select committee couldn't come up with a spending reductions, were now going to have as part as sequestration. i don't really believe in across the board cuts. i think that's irresponsible. but in the absence of cutting spending someplace to replace those 1.2 -- >> got to take it where you get it. >> it's not the only way we're going to get it. >> it's never a good time to cut spending. it's one of the things i've learned. i guess i saw it years ago when i worked down there. but reporting on this thing night after night, one of the things i learned, senator moran, is it's never a good time to cut spending. so march 1st is an interesting deadline. >> i'm not voting to set the sequester aside unless we cut the 1.2 trillion someplace else. >> good luck on that. senator jerry moran of kansas, thank you very much, sir. we appreciate it. >> thank yo
CNBC
Jan 29, 2013 1:00pm EST
resolution. we seemed to have punted down the road the idea of using the debt ceiling as a bargaining chip. that's question number one. number two, can the rate of earnings grow? the earnings numbers are okay. earnings growth has slowed. can that rate of earnings growth sustain this kind of rally, these kinds of prices and evaluations. >> what do you think, kenny? >> i think it's ahead of itself. listen, the government put the sequestration and debt ceiling on vacation for six to ten weeks. therefore, the markets are concentrating right now. as we move through february, you can believe sequestration is going to come to the top again. when it does, it will have that whole sense of anxiety. >> let me answer questions. we are seeing revenue growth now. we have no revenue growth last quarter, now almost 4% in the quarter. if we get an acceleration even modestly top line growth, 5% maybe, that will go right to the bottom line. >> i want to get to rick santelli. he had an auction that went off the board. how does it look, ricky. >> doesn't look bad. we'll give it a grade in a minute. one issue m
KICU
Jan 30, 2013 4:00am PST
not help existing green card holders. the senate is expected to vote later this week on the debt ceiling. the bill on the table from the house calls for a delay until may 19th on the debt deadline, which allows the treasury to continue to sell bonds to pay for bills the nation owes on money already spent. senators are also considering ways to tackle the country's budget. automatic cuts to defense and social programs could go into effect march 1st if there is no deal. as the nation's biggest biotech firms continue to push against generic drugs, the companies are taking the fight to a new arena - state legislatures. the new york times reports that drug companies are lobbying hard for new laws that would limit a pharmacist's abilitiy to fill prescriptions with generic versions of the most profitable drugs. bills have been introduced in 8 states. generic drug companies, as well as insurers, are taking steps to try and curtail the bills. federal regulators crack down on an alleged fake flu remedy. in the midst of one of the worst flu seasons in recent memory, a florida company has been sellin
FOX News
Jan 29, 2013 8:00am PST
to extend the debt ceiling, but another budget battle could shut down the entire federal government. rich edson is lye on capitol hill for the fox business network. what's going on, rich? >> reporter: good afternoon, jon. in a couple of days, the senate will vote on a proposal to extend the debt ceiling out til may, so if the senate does, it heads to the white house for the president's signature, and that reorders the calendar of deadlines as far as spending is concerned, so next up would be the government spending cuts, the automatic spending cuts known as the sequester followed by march 27th a large chunk of government spending authority runs out. and without an agreement the, basically, no spending agreement there you'd have a government shutdown on may 18th, that's the next debt ceiling deadline if this does manage to pass the house and the u.s. senate and go to the president's desk for his signature. analysts are saying next up now is that big government spending fight dealing with the appropriations process, and it makes it more likely now with that up next that there could be a got
NBC
Jan 31, 2013 5:00am EST
to raise the debt ceiling. >> a tornado it is being blamed for a death in georgia. homes were destroyed, cars were tossed. thousands of people are without power in tennessee. three tornadoes touched down. >> now insta-weather plus and traffic pulse 11 together. >> it was a rough night in maryland. we had anywhere from 1-4 inches of rain. temperatures right now or in the 50's. a cold front is going through. following are steady temperatures for the rest of the day. there could be some leftover rain showers. it will be a lot colder this afternoon. seven-day forecast in a few minutes. >> we have a crash northbound on 95 at 32 in howard county. three left lanes are blocked. things are moving fine. we do not see any delays. some flooding from the heavy downpours overnight. york road, we have a closure. eastbound 50, we have a crash that is blocking the right lane. some debris blocking the right lane. 65 on the harrisburg expressway . traffic is moving find in both directions. that is the latest on traffic pulse 11. >> 52 degrees at the airport. >> 11 treat designer is coming up with a plan t
SFGTV2
Feb 4, 2013 10:00pm PST
on in the present debt ceiling controversy in washington. >> my favorite book just recently, and i tell you it is $9.95 on amazon, is president kennedy's book called "nation of immigrants." it was written in the early 1960's. it will take you a couple of hours to read it again. it is a fabulous book and makes you realize that nothing has changed in the last 50 years. he talks about why we are a nation of immigrants and why that has been the strength of america. so, yes, we are all a nation of immigrants. we should remember that in these debates. but florida has an interesting process, something the all states should adopt, but every 20 years, a group of 30 citizens are awarded by the governor, the speaker of the house, the senate, supreme court, to rewrite florida's constitution, every line of it. it does not go to the legislature. all those pesky lobbyists out there do not get a chance to lobby one way or the other. goes right to the citizens of the state. took us two years to do that. we look at these issues. in florida's constitution, a quality education is now in the florida constitution. i do b
CNBC
Jan 31, 2013 9:00am EST
with the debt ceiling negotiations. maybe some other kind of macroevent. last night saying to me, wouldn't it be ironic or weird if the big pest thing that happened hurricane the biggest fear of macromelt down never happened but instead what we got is boring old no growth? something nobody was really set up to deal with right now. that is not the dominant emotion. right now the jeep feeling is the bulls are still in charge. a lot of e-mails about siegel, jeremy siegel, 70% chance the dow will hit 15,000 this year. that was widely commented, to me at least, this morning. he sees a big increase in consumer spending. says the housing recovery is going to continue. home builders had good numbers but they are down. remember, the problem suspect the numbers they are reporting, it's the valuations. we've had pulte with good numbers, merit tash, the numbers, two times book for most of the home building companies. two times book for most of the home building companies. women pool, the guidance spectacular, 9.24 to 9.75. right now, still at 9.25. >> 19 1/2. >> to 19.75 on tri pointe homes. guys, b
FOX Business
Jan 31, 2013 1:00pm EST
happening. >> steve wood, always excellent. ashley: good stuff, sieve. now to the debt ceiling talking about washington. the senate is expected to vote on a temporary measure. rich edson in washington with more on that. rich. >> senators will likely pass the debt ceiling increase this afternoon and the president is expected to sign it extending the debt ceiling through may 18th and paving the way for the next washington fight, spending. >> the republican playbook of continuing complaining about spending is something we know we have to do something with spending. >> there are two things we know about tax increases for sure. first, they reduce jobs and hurt economic growth. and second, they distract us from addressing the real problem which is spending. >> so automatic spending cuts known as the sequester begin in march and a large forges portion of government spending authority runs out on march 27th. if lawmakers fail to reach a spending and budget deal we'll have another government shutdown then. president obama is allowing his jobs council to expire. the 2-year-old council including busine
CNBC
Jan 31, 2013 4:00pm EST
, the united states senate has just voted to extend the nation's debt ceiling for multiple months. the new deadline now will be may 19th, and that tees up now the next fiscal fight here in washington which will come on march the 1st. it will be over the so-called sequester. all of those automatic spending cuts, will they be allowed to go into effect? that will now be the next big question we wrestle with here in washington, maria. >> thanks so much. >> january jobs figures taking center stage first thing tomorrow morning as the white house shutters its jobs council. hampton pearson on what's sure to move the markets. >> reporter: hi, maria. tomorrow's job reports will have two part, the headline numbers on jobs and the unemployment rate. our cnbc survey predicts employers increasing non-farm payrolls by 1 of,000 jobs versus 155,000 in december. the unemployment rate holding steady at 7.8%. now today we heard that first-time unemployment claims actually jumped by 38000 to a seasonally adjusted 368,000, that according to the labor department. lost in yesterday's focus on negative gdp was the
MSNBC
Jan 28, 2013 5:00pm PST
't lose those spending cuts. that was to pay for the last debt ceiling increase, let aloney future increases. we're not interested in shutting government down. what happens on march 1, spending goes down automatically. march 27th is when the moment you're talking about, the continuing resolution expires. we are more than happy to keep spending at those levels going on into the future while we debate how to balance the budget, how to grow the economy, how to create economic opportunity. >> all right. now let's put this in context and think about what congressman ryan from wisconsin is really saying. republicans backed off their debt limit threat because they knew it was a political loser. and now they seem to be backing off their threat to shut down the government. sequester? well, that's another matter. if congress does nothing, the cuts take effect. republicans don't want defense cuts, but they might be willing to stomach those cuts because domestic programs would also get slashed, including medicare. and that's what republicans really want. let's turn to barney frank, former mass
MSNBC
Jan 29, 2013 12:00am PST
would be that much under the debt limit. plus, the debt ceiling simply says we're not going to pay our bills. it just is illogical to say that's to pay for that. that's like going out and incurring costs which all of us did, republicans and democrats together, and then saying oh, and by the way, i'm not going to pay my bill unless you do me this enormous favor. but the other point i would make is this. he talks about, we need tax reform. the biggest single abuse in the tax code today, and it's a tough contest, is the one that says the richest people in america who run hedge funds can treat their earned income as if it were a capital gain. they call it carried interest. >> yeah. >> it means the rest of us are carrying them. and we voted to reduce that. and paul ryan boxed it. he is against that. and if you remember from that interview, he did not give a single specific about a tax break he wants to end, and he talked about cutting entitlements. >> he is up front saying no more revenue. i mean, that's their position on that. now, they've backed off the debt limit. now they're backing off
CBS
Jan 31, 2013 6:00pm EST
into further deficit and debt. >> obviously democrats would prefer a longer suspension of he debt ceiling which would provide additional economic security and stability as we continue to find ways to decrease the deficit. raising the possibility that the u.s. could default its obligations every few months is not an ideal way to run government but a short term solution is better than another imminent manufactured crisis. >> holman: the house already passed the bill. without it, the government would default on its obligations as early as mid-february. in economic news, americans' personal income grew in december, by the most in eight years. but first-time claims for jobless benefits were up last week. and on wall street today, the dow jones industrial average lost nearly 50 points to close at 13,860. the nasdaq fell a fraction of a point to close at 3,142. blinding snowfall and a slick freeway triggered a mile-long series of crashes in detroit today. at least three people were killed and 20 more injured. the pileups left a section of interstate 75 littered with wrecked cars and big-rig trucks. th
PBS
Jan 31, 2013 10:00pm PST
democrats would prefer a longer suspension of he debt ceiling which would provide additional economic security and stability as we continue to find ways to decrease the deficit. raising the possibility that the u.s. could default its obligations every few months is not an ideal way to run government b a shorterm solution is better than another imminent manufactured crisis. >> holman: the house already passed the bill. without it, the government would default on its obligations as early as mid-february. in economic news, americans' personal income grew in december, by the most in eight years.but first-time claims for jobless benefits were up last week. and on wall street today, the dow jones industrial average lost nearly 50 points to close at 13,860. the nasdaq fell a fraction of a point to close at 3,142. blinding snowfall and a slick freeway triggered a mile-long series of crashes in detroit today. at least three people were killed and 20 more injured. the pileups left a section of interstate 75 littered with wrecked cars and big-rig trucks. the tangle involved some 30 vehicles, and
NBC
Jan 31, 2013 6:30pm EST
final approval today to a measure that would at least put off the debate over raising the debt ceiling. this measure expense the government's borrowing limit to may 19th. the national debt will be pushing the $17 trillion. in other words, it's really washington's version of kicking the can down the road. the president is expected to sign this bill immediately. >>> now to the economy and the financial markets. stocks fell a bit today with all three major indexes modestly lower. but for the month, the dow was up almost 6%, the best since january in '94. nasdaq gabd 4%, s&p just over 6. its best january since '97. what is the market surge trying to tell us when mixed in with some bad news out there, as well? and on the eve of another big jobs report? our report from nbc's tom costello. >> reporter: 25-year-old kory wilson can tell you, it's not easy looking for a job. she has applied for 200 since earning a masters degree in public relations last may of the. >> being a post graduate, either i'm overqualified or i'm underqualified. >> she is looking for work, but the economy seemingly pois
NBC
Feb 5, 2013 6:30pm EST
the fiscal cliff crisis and the debt ceiling drama, now president obama is calling on congress to get past the next term we all need to turn, the sequester. big, across-the-board spending cuts that are due to take effect the 1st of march. the president called today for a limited package of spending cuts and tax reforms to avoid the deadline. republican speaker of the house john boehner rejected that, saying republicans want a bigger agreement on a long-term deficit reduction plan. the white house also announced today president obama will be going to israel this spring for the first time since taking office. israeli media say he's due to arrive march 20th. though the white house would not confirm any of the travel dates. >>> we are learning much more tonight about the breaking story we brought you here last night. the dramatic rescue of a 5-year-old boy, after a standoff in alabama that lasted almost a week. nbc's gabe gutierrez is with us tonight from midland city, alabama. gabe, good evening. >> brian, good evening. today ethan's mother broke her silence. in a written statement she said i
NBC
Jan 31, 2013 4:30am EST
hill. the senate will decide whether to put off the debate over the debt ceiling until spring. it will vote on a bill to allow government to keep borrowing money without congress' permission until the middle of may. the house already passed the legislation. president obama said he will sign it if the senate fails -- rather, if it fails in the senate. the treasury warns the government may not be able to pay its bills in a matter of weeks. >>> 4:34. chuck hagel will tell a senate committee why he should be the next defense secretary. the senate armed services committee will hold hagel's confirmation hearing. the former republican senator and vietnam veteran will likely face tough questions, especially about his stance on israel and iran. he prepared by meeting privately with more than 50 senators and leaders of public interest groups. >>> right now, vice president biden is preparing for his first trip overseas for the obama administration's second term. he leaves today for europe. the white house says he'll visit germany, france, and the u.k. the vice president's first stop will
CSPAN
Feb 2, 2013 4:30pm EST
is under 2 percent growth. you know, if we don't resolve some of the debt ceiling and some of the spending cuts and get into some of the fiscal order that you were talking about, you're going to have that weight on it, and even though you proposed a lot of hope with japan in terms of some of the political leadership, they are still in negative growth was 7%. so now your up to 50% or so of world gdp that is a drag on the economy. how you look at, you know, the broader sense of contagion as it relates to the emerging market growth and development country growth with 50 percent of world's gdp possibly in that situation? >> i think the trade figure still at all, whether you agree with the figures of growth are not, i think the trade figures show what is happening. there is no doubt, picking one of the countries mentioned, china, i mean, china for the last of the years has been double digit growth. last year they had one of the worst years in recent memory. we will see the final figures coming out. it did not give below 7%, which i view as hard landing, but when you move from double digits down
FOX Business
Feb 4, 2013 1:00pm EST
. i think they will do the same thing on the upcoming debt ceiling and sequestration. ashley: so if we do have this pullback after the state of the union, jeff, what sectors or stocks in particular do you like? >> i actually like all the sectors except the consumer staples. a lot of portfolio managers, professional money has been hiding out in the consumer staples because they were worried about the upcoming election, the fiscal cliff, the debt ceiling, china slowing, you name it, dysfunctional government. now it has become more apparent our dysfunctional government has become a little bit less dysfunctional i think investors will start to have to look at the fundamentals. i think the fundamentals with the housing situation, the automobile strength i think it is going to come to the fore. tracy: i hope you're right, jeff saut, with raymond james. thank you very much, sir. >> you bet. ashley: jeff says when housing is healthy and automobile industry is healthy that's always a good sign for a solid recovery. tracy: he is not wrong, right? they do kumbaya at the last minute. ashley: good
CNBC
Jan 29, 2013 6:00am EST
managers are telling washington right now. let's take a look at the next idea about the debt ceiling debate. i think this is a really important finding here, guys. we ask do you think congress is going to increase the debt ceiling every time it's reached, refuse to raise it at some point and don't know? you can see 86% are saying that congress will raise the debt ceiling every time it's reached this year, when i think about some of the reasons why stocks have gotten higher because i think that thread along with the fiscal cliff has come out of the market and that there's overwhelming sentiment that coss i solve the get problem. we asked wall street to grade our treasury secretary going out and one coming in. you can see a pretty strong sentiment that he was a seed secretary with a 2.2. jack lew, the sentiment there. 2.0. one more thing on the deficit i just want to say and maybe this is worthy of discussion here. i think this is a sign that things have improved, at these economists and guys on wall street are saying we should solve the deficit and do it now. i think if things were as bad as
CNBC
Jan 31, 2013 6:00am EST
is expected to vote this afternoon on a bill to suspend the debt ceiling for three months, following the house. this would allow more house for debate on the fiscal issues we're facing. the senate version includes several republican amendments, though, including matching spending cuts for every dollar increase in the debt ceiling. those amendments expected to be defeated. the bill won't technically raise the debt ceiling, but it will suspend it until may 19th when it will be raised by the amount that the treasury borrows in the interim. that's how it's going to work. and markets, as we've been talking about on a tear this month with the dow having its best january in decades. but will yesterday's surprising drop in gdp reign in the bulls, it says here? let's get a read on the state of the economy. at least it wasn't a -- that kind of rein. there's three of them. anyway, joining us for the next hour is bob bruska. that's fao -- >> no. you cannot. >> fao economics. as becky said at the top, things are going to go really well or the market is going to have an '87 crash. >> i like the binary outlo
Current
Jan 31, 2013 5:00pm PST
. that will make the battles in the g.o.p. caucus over the fiscal cliff debt ceiling taxing to be a walk in the park on sunday. while on a state level the g.o.p. extremists can't get out of the way from their own radicalism in virginia ken cucinelli or c uch has he is known. he writes, quote creating government dependency is the typical method of operation for big government statists. also to put a cher on on top of the dysfunction, the mississippi legislature has created a new law. an idea as archaic as it is unconstitutional. joining me now is rick unger whose piece we just quoted. thankthank you for being here. >> always a pleasure. >> always a pleasure having you. will it be an effective wedge to break open the g.o.p. they tried it in the 47% class it didn't work but now they're able to split the party. >> i think the democrats will have nothing to do with it. the republicans will do this all on which are own with an exist from the tea party. >> how so? >> this is a perfect setup for what was inevitable, and this is going to be the great shoot out at the o.k. corral. assume that this
FOX Business
Feb 1, 2013 6:00pm EST
how quiet things have become about what a huge story we had a month ago? what fiscal cliff? what debt ceiling? it looks like someone in washington is doing a big messaging switcheroo. they don't want us talking about how badly they have mismanaged our nation's finances. instead, let's get people talking about something that is also important, freedom, freedom to bear arms, freedom for people to travel to and from our country. well, the president can pretend he is a big skeet shooter, but it is insulting to think you will notice your paycheck has shrunk as a first of the year. melissa: and be sure to watch the tom sullivan show this weekend at seven and 10:00 p.m. on saturday and on sunday at 7:00 a.m. and 7:00 p.m. eastern. what do you think of the market? 14,000, up next week, the dow? >> we are rich. okay. i think it will bring people into the market. probably good. chase the market up as the money comes in. melissa: absolutely. all right. have a great weekend everybody. we'll see you back here monday. ♪ gerri: hello, everybody. i'm gerri willis. tonight on "the willis report" it'
FOX Business
Feb 5, 2013 4:00pm EST
-being. the debt ceiling has been pushed off till may. now we're in the cadence of the budget that will come forward and immigration reform is the signature item of the president, of the business community and both parties. so there is a realp opportunity to do this. david: let me just ask about one specific thing. a lot of people are on board with regard to immigrants who can add to the economy. we just had an immigrant from india on earlier who came here, got an education, at mit. and went on to start a company that makes a billion dollars and employs a thousand people that kind of immigrant is the nation that is okay with. it is the immigrants to suck off the government, to take more than they give that they're against. do you think everybody is on board with that idea? >> i think there is a lot of misinformation. i don't agree with that characterization. people have to tendency to talk about the founder, the stanford grad or mit grad that knows computer science and pounds a company and that's great. that is the h-1b high-skilled worker. equally important is the 11 million undocumented. s
FOX News
Feb 2, 2013 3:00pm PST
coming together and coming up with a unifying message whether it comes to the debt ceiling, whether it comes to chuck hagel or immigration reform. what do you think about all of that? >> well, it's funny. i am an old democrat as they say. so i remember the days when the republicans were all united. we democrats would get in a circle and start shooting inward. there was a sense in which everything has changed in the opposite way. you have got a very united democratic party standing toe-to-toe with the president. and you have got republicans bitterly divided so the way you get majorities right now is the democrats pick off republicans and leave the rest of the republicans out in the cold. if i were republican i would not be very happy right now. >> you mentioned the democrats have been through periods like this in the past. then along came bill clinton, for example. he nudged the party toward the center. the democrats started winning some elections. do you think if you take a look at what's going on with republicans from your side of the aisle that maybe something like that is going t
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